Sam Chand Acquires KFC Restaurant Portfolio In Long Island For $9.7M
SOLD
$9,700,000
New York
See Similar DealsRetail10,851 SF
Sold 08/15/2019
SOLD
Sam Chand Acquires KFC Restaurant Portfolio In Long Island For $9.7M
221 W Jericho Turnpike, Huntington Station, NY 11746, USA
See Similar DealsRetail10,851 SF
Sold 08/15/2019
Summary
NEW YORK
Asset Type:Retail
Price Per Square Foot:$893
Total Square Footage:10,851 SF
Transaction Type:Sale
The single tenant retail property located at 221 Jericho Turnpike in Huntington Station, 1617 Deer Park Ave in Deer Park, 1164 Jericho Turnpike in Commack, 910 S Broadway in Amityville, and 155 West Suffolk Avenue in Central Islip, was recently sold in a transaction on Long Island. The property spans an area of 10,851 square feet and is occupied by KFC.
Summary of transaction details
- Property Type: Single Tenant Retail
- Transaction Amount: $9,700,000
- Asking Price: $11,700,000
- Square Footage: 10,851
The buyer in this transaction was Sam Chand, while the seller was Kam Lau. The deal was facilitated by brokers Max Kaestner, Clem Cesare, and Frank Caporrino.
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Details
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Deal Type
30 years
10 years
Operating Income
Operating Expenses (Annual)
Net Operating Income (NOI)
$517,333.32
Debt Service Coverage Ratio (DSCR)
0.94x
Cap Rate
5.33%
Cash Flow (Annual)-$34,462.07
Cash-on-Cash Return-1.27%
Monthly Debt Service$45,982.95
Annual Debt Service$551,795.38
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